Sumitomo Life Insurance Co. Purchases 10,747 Shares of Uber Technologies, Inc. (NYSE:UBER)

Sumitomo Life Insurance Co. increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 10.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 118,018 shares of the ride-sharing company’s stock after buying an additional 10,747 shares during the period. Sumitomo Life Insurance Co.’s holdings in Uber Technologies were worth $7,119,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UBER. Geode Capital Management LLC boosted its holdings in shares of Uber Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock worth $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC lifted its position in shares of Uber Technologies by 10.5% during the 3rd quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Janus Henderson Group PLC boosted its stake in Uber Technologies by 18.3% during the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock worth $998,767,000 after acquiring an additional 2,056,273 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Uber Technologies by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Uber Technologies by 9.6% in the second quarter. Clearbridge Investments LLC now owns 12,244,856 shares of the ride-sharing company’s stock valued at $889,956,000 after purchasing an additional 1,076,876 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, the insider now directly owns 107,289 shares of the company’s stock, valued at approximately $7,821,368.10. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.84% of the stock is owned by company insiders.

Uber Technologies Trading Down 1.0 %

Shares of UBER opened at $68.08 on Wednesday. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The business has a 50-day moving average of $65.83 and a 200 day moving average of $70.19. The firm has a market cap of $143.35 billion, a P/E ratio of 33.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned $0.10 earnings per share. As a group, research analysts forecast that Uber Technologies, Inc. will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Tigress Financial increased their price objective on shares of Uber Technologies from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wolfe Research raised their price objective on Uber Technologies from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Loop Capital boosted their price objective on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Daiwa Capital Markets downgraded shares of Uber Technologies from an “outperform” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.08.

About Uber Technologies

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.